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REGISTERED NUMBER: 12627268 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Caspian Property Limited

Caspian Property Limited (Registered number: 12627268)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Caspian Property Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: R Sabet
F Sabet
Mrs H Sabet





REGISTERED OFFICE: Redland House
157 Redland Road
Redland
Bristol
BS6 6YE





REGISTERED NUMBER: 12627268 (England and Wales)





ACCOUNTANTS: Wormald & Partners
Chartered Accountants (ICAEW)
Redland House
157 Redland Road
Redland
Bristol
BS6 6YE

Caspian Property Limited (Registered number: 12627268)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,393 3,000
Investment property 5 720,000 628,283
729,393 631,283

CURRENT ASSETS
Debtors 6 309 241
Cash at bank 648 1,914
957 2,155
CREDITORS
Amounts falling due within one year 7 668,870 640,696
NET CURRENT LIABILITIES (667,913 ) (638,541 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,480

(7,258

)

PROVISIONS FOR LIABILITIES 8 16,216 -
NET ASSETS/(LIABILITIES) 45,264 (7,258 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 44,977 -
Retained earnings 10 187 (7,358 )
SHAREHOLDERS' FUNDS 45,264 (7,258 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2024 and were signed on its behalf by:





R Sabet - Director


Caspian Property Limited (Registered number: 12627268)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Caspian Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance basis

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Caspian Property Limited (Registered number: 12627268)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2022 3,000
Additions 6,393
At 31 May 2023 9,393
NET BOOK VALUE
At 31 May 2023 9,393
At 31 May 2022 3,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 628,283
Additions 30,523
Revaluations 61,194
At 31 May 2023 720,000
NET BOOK VALUE
At 31 May 2023 720,000
At 31 May 2022 628,283

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2023 61,194
Cost 658,806
720,000

If Investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 658,806 -

Investment property was valued on an open market basis on 12 September 2023 by Paragon .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 309 241

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 8,136 -
Directors' loan accounts 650,091 638,710
Accrued expenses 10,643 1,986
668,870 640,696

Caspian Property Limited (Registered number: 12627268)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 16,216 -

Deferred
tax
£   
Provided during year 16,216
Balance at 31 May 2023 16,216

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
60 Ordinary A £1 60 100
20 Ordinary B £1 20 -
20 Ordinary C £1 20 -
100 100

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 June 2022 (7,358 ) - (7,358 )
Profit for the year 87,022 87,022
Dividends (34,500 ) (34,500 )
Revaluation reserve transfer (44,977 ) 44,977 -
At 31 May 2023 187 44,977 45,164

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £34,500 were paid to the directors .